The case became synonymous with corruption across Latin America, where it paid millions of dollars in bribes to government officials and others.
Authorities accused Toledo of accepting $US35 million ($A53 million) in bribes from Odebrecht in exchange for allowing a highway to be built in the South American country.
The National Superior Court of Specialised Criminal Justice in the capital, Lima, imposed the sentence on Monday after years of legal wrangling, including a dispute over whether Toledo, who governed Peru from 2001 to 2006, could be extradited from the United States.
Odebrecht, which built some of Latin America's most crucial infrastructure projects, admitted to US authorities in 2016 to having bought government contracts throughout the region with generous bribes. The investigation by the US Department of Justice spun probes in several countries, including Mexico, Guatemala and Ecuador.
In Peru, authorities accused Toledo and three other former presidents of receiving payments from the construction giant. Toledo has denied the accusations against him.
He will serve his sentence at a prison on the outskirts of Lima. The facility was specifically built to house former Peruvian presidents.
Toledo, 78, was first arrested in 2019 at his home in California, where he had been living since 2016, when he returned to Stanford University, his alma mater, as a visiting scholar to study education in Latin America.
He was initially held in solitary confinement at a county jail east of San Francisco but was released to house arrest in 2020 because of the COVID-19 pandemic and his deteriorating mental health.
He was extradited to Peru in 2022 after a court of appeals denied a challenge to his extradition and he surrendered to authorities. He has since remained under preventive detention.
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